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20121109
20121109
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economy slows down, u.s. exports may follow suit. hurricane sandy showed up in the latest report on jobless claims, making them artificially low. initial claims for unemployment benefits dropped by 8,000 to a seasonally adjusted 355,000 at the end of last week. the number is expected to be revised higher as more data is collected. the labor department says one state filed fewer claims because of power outages, while the storm boosted claims in other states where more people looking for relief. later in the program, we'll look at sandy's impact on retailers. >> tom: the biggest bank in america has the okay now from uncle sam to pay back shareholders. jpmorgan will be allowed to restart a stock buyback plan early next year. like all systemically important banks jpmorgan has to get regulatory approval to change its dividend or stock-repurchase plan. the regulators want banks to have enough financial firepower to withstand troubled times before the banks will spend money on share holders. jpmorgan's buyback strategy was suspended this year after it lost $6 billion when a derivative t
in the wake of hurricane sandy. >> this is awful, this is just beyond, it's terrible, it's awful, i am done. >> mother nature is really killing us right now. sorry for whatever we did, we will make it up to you. >> it's snowing, this is like insult to injury, we just had a hurricane, now we 're having a blizzard. >> sreenivasan: the worst was the wind-- gusts of 50 to 60 miles an hour that blacked out customers who'd just had their power restored. by this morning, 750,000 homes and businesses were in the dark in the new york region-- 200,000 more than before the nor'easter hit. governor andrew cuomo charged utility companies planned poorly for "sandy" and are still playing catch-up. >> you look at what a utility company does and it basically comes down to wire and poles and crews and trucks. these are things you would want to have. how can you run out of poles? and then we have utility companies competing with each other to find the poles the way we competed to find crews and equipment. >> sreenivasan: meanwhile, on the roads, the snow made bumper- to-bumper collisions a common sight, espec
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